“It clearly states that the vast majority of coal, oil and gas must remain underground and that investments in the sector must fall by tens of billions of dollars a year.

“The fossil fuel industry’s business plan and a liveable planet are simply incompatible.”

The GoFossilFree campaign has called on the UN to set an example and divest its investments in fossil fuels from its GBP 33bn staff retirement funds.

Much action has already been implemented by the industry, with leading European pension funds joining forces with the UN Environment Programme and its Finance Initiative (UNEP FI) to form the Portfolio Decarbonization Coalition (PDS) in order reduce the carbon footprint of USD 500bn of worldwide institutional investment (PFI, 25 September).